International Journal of Economics and Statistics

E-ISSN: 2309-0685
Volume 3, 2015

Notice: As of 2014 and for the forthcoming years, the publication frequency/periodicity of NAUN Journals is adapted to the 'continuously updated' model. What this means is that instead of being separated into issues, new papers will be added on a continuous basis, allowing a more regular flow and shorter publication times. The papers will appear in reverse order, therefore the most recent one will be on top.

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Volume 3, 2015

Title of the Paper: Synthesizing Information and Communication in Function to Marketing Services in Financial Institutions


Authors: Fatos Ukaj

Pages: 195-199

Abstract: Starting from consumers’ demands that are in trend of continuous change, the enterprises are facing a need of having information with regard to fulfill consumers demand. Financial institutions are in a situation where their daily activities adapt to demands of their clients, having impact from anything apart from the information they posses, which are about clients demands, its financial institution capacity, as well as changes in the market and competition at least. In the paper shall be adapted knowledge regarding communication, information and new technology that makes the work of financial institution more different today than yesterday. Adaptation of novelty shall satisfy the client and shall enforce the position of financial institution.

Title of the Paper: Municipal Regulation of Gambling in the Czech Republic


Authors: J. Janderová, V. Schejbalová

Pages: 187-194

Abstract: Gambling has become major issue in the Czech Republic with uncontrollably increasing number of casinos, gaming houses and video-lottery machines in restaurants. As municipalities find national level statutory regulation insufficient, they often decide to restrict or ban gambling on their territory themselves. Therefore, they issue secondary legislation - generally binding municipal ordinances. Historically, interpretation of constitutional limits to original legislation of local governments obstructed their efforts. The change in the Constitutional Court perception of the scope of self-governing competence to issue generally binding municipal ordinances is summarized. The current practice of municipalities and economic impacts are discussed. In the end, changes de lege ferenda are proposed.

Title of the Paper: Healthy Nutrition 2.0 in Spain: Healthy Education and Control of Misinformation


Authors: A. Hernández, P. Canales, N. Vila, I. Küster

Pages: 182-186

Abstract: Healthy nutrition companies and organizations are increasingly using the Internet to deliver health information; however, little is known about use web 2.0 as a source of nutritional information. In web 2.0 each user has their own individualized profile that businesses learn through cookies and data mining. Thus, this situation forces us to consider the impact that this technology could have on healthy nutritional attitudes of users and the importance given to perceived control to avoid nutritional misinformation. This research analyzes the above relationships in Spain. For this purpose 345 valid questionnaires corresponding to social networking users were obtained. A personal survey with a structured questionnaire (non-probability convenience sampling) was used. EQS was used to test the proposed model. The findings have demonstrated that a higher perceived usefulness in healthy nutritional education and greater user control over nutritional information defines a better social networking attitude and a strengthening of the intended use of healthy nutritional in web 2.0.

Title of the Paper: Application of the Logistic Regression in Non-bank Financial Institutions


Authors: M. Papoušková, V. Pacáková

Pages: 178-181

Abstract: The aim of this paper is to demonstrate the application of the logistic regression in non-bank financial institutions. Compared to banks, these companies have a significant share of badly paying clients. The dependent variable is so called default. Among independent variables which are included into the model are variables like net income, installment, age, available funds, marital status and more. The methods of logistic regression assess the intensity of the impact of independent variables on the ability to repay the loan. This information is essential for managing of the credit risk of non-banking institutions.

Title of the Paper: Bayesian Estimates of Health Care Costs in Slovakian Insurance Companies


Authors: P. Jindrová, K. Seinerová

Pages: 174-177

Abstract: This paper presents an example of application of the Bayesian analysis to estimate health care expenses by health insurance companies. In particular, the Bühlmann-Straub model is applied onto real data from three insurance companies in Slovakia in order to calculate the credible health care costs per person and the corresponding credibility factors for each company. The results show that while the largest insurance company can reliably predict the health care costs for the subsequent time period based on its own statistical data, the smaller companies are unable obtain meaningful predictions without involving the data from the whole marked. The presented case study shows that the Bayesian analysis is a useful tool for calculations in the field of health insurance.

Title of the Paper: Increasing the Success Rate of Restructuring Projects with Portfolio Management Techniques and the Role of the Controlling Function


Authors: Valerian Laval

Pages: 167-173

Abstract: The volatile business environment and the constantly increasing global competition are forcing companies to regularly strengthen their competitive base. Companies who do not review their cost structure risk to slowly erode their competitive position. The article will outline how the performance of restructuring projects can be increased by combining potential measures in an optimized way. For this the article will introduce six characteristics to evaluate restructuring measures and explain how to balance them to the specific restructuring needs of the company using portfolio management techniques. Evaluating the performance of restructuring projects is a second important aspect discussed in this paper. A reliable evaluation is needed to steer the project as efficient as possible and to reach the desired results. The article outlines that quality of the evaluation depends on a reliable bottom up planning of the measures and a proper consolidation of the measures in the financial statements. Consolidating the measures in the financial statements requires a transparent reference cost base from which one time effects and other non-repetitive effects are eliminated beforehand. The article will discuss adverse effects which can disrupt the evaluation and which should be considered by the controllers to improve the accuracy during the planning and steering of restructuring projects. The main contribution of this paper is to integrate portfolio management techniques to design tailored restructuring programs and to illustrate how to better evaluate and steer the performance of restructuring projects. The paper is expected to have high relevance for multinational companies seeking to maximize the short and long term result of their restructuring projects.

Title of the Paper: Not Only the Social Aspects of Creeping Societal Changes


Authors: Š. Brychtová

Pages: 161-166

Abstract: This paper examines possible changes that the society expects in the near future. The changes are mainly in the economic and social spheres of our society. The article in its introductory passages and chapters outlines possible causes of society-wide transformation that it sees largely in the unrestricted application of neoliberal approaches intensified in the last 20-25 years in Europe, which undoubtedly leads to reducing the role of the strong state and a considerable asymmetry of the public and the private sectors, which certainly carries some potential risks. The article, however, attempts to present other ambitions as well - in the context of not only social, but also philosophical and ethical, point out deeper causes of the current much discussed and intractable imbalance.

Title of the Paper: Working with Information at the Period of Tomas Bata and Now


Authors: Ladislav Burita, Jakub Chvatal

Pages: 155-160

Abstract: The article describes the initial state of research in comparison of work with information at the Tomas Bata (TB) period and now. Acquaints the reader with TB person and his company; it provides basic rules for the management of the company Bata. They are defined areas of work with information, indicating their frequency information and using of forms for processing data. For comparison the current work with information is selected information system (IS) QI. In selected areas are given functions of the IS. Furthermore, it is the proposed method of analysis and comparison of the two approaches.

Title of the Paper: Enterprise Risk Management and Firm Performance Validated Through Economic Value Added Factors


Authors: Muhammad Kashif Shad, Fong-Woon Lai

Pages: 148-154

Abstract: Enterprise Risk Management (ERM) is an essential technique, used to manage a myriad of risks in a holistic manner. This paper presents an ERM implementation framework which is operationalized by fourteen elements. It highlights the impact of ERM towards the firm’s performance measured through Economic Value Added (EVA) factors. The research design incorporates descriptive and cross-sectional analysis. Data was collected from 120 public listed companies in Bursa Malaysia through questionnaires survey. Results of the empirical analysis show that ERM implementation has significant positive impact on firm’s performance. The results support the hypothesis that the firms which implements ERM will enhance their performance as validated through the perceived measurement of EVA factors. This study offers a perspective of measuring ERM implementation impact through EVA factors as compared to the accounting measures.

Title of the Paper: The Conjuncture of the Brazilian Textile and Apparel Industry for the World and the Relevance of Triple Bottom Line


Authors: M. Fábio Murcia, K. Dib Jr., R. Júlia Baruque

Pages: 141-147

Abstract: The Brazilian industry is passing by a very common situation as many industries present in other countries. It means a difficulty to compete with Asian industries by several factors. His situation demonstrates a number of opportunities that are not applied by a culture imbued in the sector, even in broad profile change hardly puts into practice solutions for the internal strengthening. Identify possible reasons that keep the industry to a negative environment is a basic requirement for an early gain and improvement market, especially with regard to facing internal and external competition in the country, which in globalization factors are presented each increasingly strengthened and drop the Brazilian industry in several sectors of this segment, no different in the Brazilian textile and clothing industry. By identifying these specific factors of these sectors, becomes more pragmatic the research of possible solutions to an improvement in a structured environment or change profile, generating more representative force in the face of competition and demand for change of government policy stance with actions of the textile and clothing manufacturer Brazilian protection. In addition to a cyclical study, present the relevance of sustainability in its broad concept form (Triple Bottom Line) as strengthening this important alternative chain for Brazil and the world.

Title of the Paper: ABCD Analysis- A New Validation Model for Dubai Government Excellence Program (DGEP)


Authors: Sameh M. Saad, Maan N. Al Afifi

Pages: 128-140

Abstract: The purpose of this paper is to test a new developed validation model called ABCD Model Analysis through validating Dubai Government Excellence Program (DGEP) model for the first time. The validation carried out on DGEP model 2009 version has led to some alteration in both the ABCD model and DGEP Model and has been compared and matched with the modification implemented as part of the internal continuous process improvement in the subsequent versions of DEGP. The ABCD Model Analysis can be thought of as “Achievement Because Continuous Development” and the validation tool based on the set of steps i.e. Analyze, Build, Check, and then Decide. The core of the validation tool development is formed by combination of well-known quality management tools: Deming Cycle, RADAR logic and using the application of statistical tools: structural equation modelling, SPSS and AMOS. In this paper the focus is to analyze the DGEP criteria, Building the model according to the ABCD model analysis, building the measurement instrument through questionnaires distributed in the Emirate of Dubai, using research hypotheses and ABCD path analysis which is developed to facilitate, analyze, test the model and Check the built model to verify the analysis that was made on DGEP. The critical analysis carried out on the nine DGEP criteria distributed into 38 main sub criteria and 200 sub-sub criteria found to be valid and reliable. The DGEP adopted the structure of the EFQM model and adapted to the UAE culture settings. Most of the DGEP model component linked strongly the five enablers "Leadership", "Strategy", "People", "Partnership" and "Resources and Process" with the model outcomes represented in the four types of results; people result, customer result, society result and key result. The study shows that for the first time and by using the ABCD Model Analysis the DGEP Model was validated successfully and confirmed to be fit for use. In addition, it is evident that the proposed ABCD Model Analysis is a very useful management tool for validation due to its systematic, simple, easy to remember, implement and to refine. In addition, the Path Analysis in the ABCD Model is a better version of the known Path Analysis techniques.

Title of the Paper: Exploring the Effects of Online Video Advertising Message Display, Product Placement, and Product Involvement on Advertising Effectiveness


Authors: Ying-Fang Lai, Chien-Yuan Lai, Hsiu-Sen Chiang

Pages: 117-127

Abstract: The development of E-commerce and online advertising sales has been growing rapidly. The online interactive video advertisement is able to attract people’s attention and favored by companies. In particular, YouTube is the most popular online video platform. It also places a lot of video advertisements on its services. At least tens of thousands video advertisements are placed in the YouTube platform. Therefore, how to let consumers remember advertisements and maximize the advertising effectiveness are important issues. The aim of this study is to explore the effects of video advertising message display, product placement, and product involvement on advertising effectiveness. A 2 x 2 x 2 three factors factorial design, advertising messages display (non-skippable in-stream, overlay), product involved (high, low) and product placement (explicit, implicit), is conducted. We adopt independent t-test and two way analysis of variance method to test the main and interactive effects of these factors on advertising effectiveness. The results show that on the YouTube platform, the presentation of advertising messages will not significantly influence advertising effectiveness. However, if the advertising messages and video content is highly relevant, consumers will be more willing to understand product information by clicking the advertising messages. Moreover, explicit product placement had better advertising effectiveness; video advertisements have better advertising effectiveness on the consumers with a higher level of product involvement. Finally, the implications of this research were discussed.

Title of the Paper: Rough Set Theory and Discriminant Analysis to Classify Financial Data


Authors: Nursel Selver Ruzgar, Bahadtin Ruzgar, Fahri Unsal

Pages: 110-116

Abstract: The mutual funds play a huge role in today’s financial markets. They range from a low risk to very high risk depending on the portfolio of financial instruments included and in what proportions. Typically, funds that are heavy in bonds are low risk while funds heavy in stocks are high risk. Mutual mixed-asset funds, due to their portfolio mix, are influenced by market movements in either direction. That is one reason why this paper focusses on daily price movements and the resulting positive, negative and neutral returns. The statistical discriminant analysis and the mathematical rough set theory approaches were used in the analysis of Turkish mutual fund industry. 14 mixed asset funds were analyzed for daily price and return movements using 2,267 data points from January 2, 2004 to December 31, 2012. Discriminant analysis approach provided a moderate classification in terms of positive or negative returns. The common structures provide by the rough set approach provided generally better results. The resulting models were tested with actual data and the results were very promising.

Title of the Paper: Euclidean Distance and Corporate Performance in the DEC Spatial Model


Authors: Takao Ito, Tsutomu Ito, Katsuhiko Takahashi, Rajiv Mehta, Makoto Sakamoto, Satoshi Ikeda

Pages: 102-109

Abstract: Identifying specific inter-firm relationships that are associated increased efficiency can guide the formulation of corporate strategy. Although many tools have been developed for measuring qualitative (e.g., friendship and workflows) and, but also quantitative relationships (transactions and cross-shareholdings), owed largely to changes resulting from uncertainty and globalization, additional mathematical methods are required. Consequently, this research proposes a new approach known as the DEC spatial model to calculate Euclidean distance embedded in three-dimensional space composed of three network indices: degree, effective size, and capacity. Transaction data drawn from Mazda’s Yokokai is used to compute degree, effective size and capacity. The relationship between Euclidean distance, which is calculated, and sales (an indicant of corporate performance) is also assessed. Managerial implications, study limitations and suggestions for future research are offered.

Title of the Paper: Information Requirements for IT Services of Custom Production Procurement Process


Authors: Anastasia I. Lyovina, Alissa S. Dubgorn

Pages: 94-101

Abstract: Modern manufacturing enterprise produces a wide nomenclature of outputs that requires a wide range of supplied materials and component parts. Procurement of such a company involves choosing suppliers for each item needed, defining of period and size of each delivery, purchasing and supply, warehousing of goods. In order to be efficient all this activities need a proper coordination which under nowadays conditions can be provided only by IT system. The quality of IT support is a foundation of the quality of the whole process. To develop a proper IT solution or to customize an existing one the real business process should be analyzed carefully in order to identify the requirements to IT services of the future IT system. The paper describes an approach for identification of requirements of IT services for procurement process of custom production.

Title of the Paper: Analysis and Forecast of Indicators of Industrial Production Using Regression, Correlation and Cluster Analysis


Authors: Peter Poór, Gabriela Ižaríková, Jana Halčinová, Michal Šimon

Pages: 85-93

Abstract: This article deals with the indicators of industrial production. Industry and related services have an impact on the development of the whole country and also the development of individual regions, source of jobs. Manufacturing is categorized into classification of economic activities called NACE, which is comparable on international level. In this article, we devote this indicator of industrial production in Slovakia, the number of persons employed, monthly wage labor productivity from revenues from own services and products, revenues from own performances and goods in industrial production. The development of these indicators is described by regression and correlation analysis. To estimate the coefficients of the regression function is the method of least squares. Using appropriate regression functions is performed forecast indicators of industrial production in 2014. The relationship between the various indicators is explained by the correlation matrix. Similarity relations within the indicators examined partially and collectively are expressed using cluster analysis by year and category of industrial production.

Title of the Paper: The Superiority of Evolutionary Algorithms to Robustify Backpropagation Neural Network Learning Algorithm


Authors: S. B. A. Kamaruddin, N. A. M. Ghani, N. M. Ramli

Pages: 77-84

Abstract: This paper aims at investigating the properties of time series data with outliers and missing values problems by applying the Sequential Panel Selection Method (SPSM) using Panel KSS unit root test with a Fourier Function. The time series data refer to the real-industrial-data which is the Malaysian construction materials price indices monthly data from January 1980 to December 2013, with base 100 in year 1980 covering four states of Malaysian Peninsular central region; Wilayah Persekutuan Kuala Lumpur, Selangor, Melaka and Negeri Sembilan. The method used in this study is powerful to classify the whole panel using structural breaks as well as nonlinearity control, and determines which series in the panel are stationary processes. The empirical results found that the series of Ceiling Materials, Roof Materials, Timber, Bricks and Partition, Glass, Aggregate, Plywood, Sanitary Fittings, Floor and Wall Finishes, Plumbing Materials, Steel and Metal Sections, Sand, Paint, Steel Reinforcement and Ready Mix Concrete price indices are all stationary even though there exist different severity of outliers problem and interpolated missing values in the data. The missing values interpolation techniques with respect to this study are nearest neighbor, linear, piecewise cubic spline, shape-preserving piecewise cubic, and their significance based on bootstrap p-values are also shown in this paper. This initial test is important to be considered before any further attempts of time series or forecast modeling can be implemented on the data. The findings are important for the policy makers, contractors as well as subcontractors to further forecast the future prices of construction materials and soon assist them in tender bidding before any agreements on construction projects are made.

Title of the Paper: The Reciprocal Relationship of Insolvency Proceeding Results and Economic Performance Ascertained by the Regression Analysis Method


Authors: Luboš Smrcka, Markéta Arltová, Jaroslav Schönfeld, Lee Louda

Pages: 65-76

Abstract: The work stems from the hypothesis according to which there is a relationship between the economic performance of a specific country and the results achieved in the given country in insolvency proceedings.  To compare the efficiency of the economy, the indicator of gross domestic product per head of population is used for comparative purposes. The authors here use as a departure point the assumption that high economic efficiency, i.e. a high gross domestic product per one inhabitant is possible only in a cases where a high-quality legal and regulatory framework exists. In simpler terms, one could speak of the level of enforceability of law. In this logic, then, it necessarily applies that more developed countries should have better results of insolvency proceedings than less developed countries. Data on yields for creditors, costs for and duration of proceedings are used as a gauge of quality of insolvency proceedings. In this selection, the authors proceed from the conviction that the yield for creditors is the only entirely objective gauge of the success of insolvency proceedings, whilst they further assume that the yield is indirectly proportional to the costs and duration of proceedings. In this area, the authors refer to older works. The authors then declare that the fundamental hypothesis on the relationship of economic efficiency and yield for creditors from insolvency proceedings has successfully been proved. Similarly, further assumptions of the author team have also been proved. Part of the work also includes comparison of data from international survey with real results of insolvency proceedings in the Czech Republic, where, in contrast to other developed countries, there are relatively comprehensive sources based on analyses of specific cases.

Title of the Paper: Evaluation of Quality Level and Selection of Relevant Parameters’ Values in Manufacturing, Business and Education


Authors: Ahmet Demir, Irakli Rodonaia, Irina Milnikova

Pages: 59-64

Abstract: The requirements for production and learning process quality are different in various manufacturing, business and educational organizations.  A new approach to fit these requirements and evaluate the closeness of realistic (actual) quality of production or learning processes (based on quality indicators of output or scores of examination tests) is proposed in the paper. The technique uses the strictly defined approximation procedures and allows users automatically evaluate of closeness of actual quality level when changing quality requirements. In case of significant difference between  actual  and  pattern distributions a new approach (using neural network of ‘Generalized Regression Neural Network’ type)  of  determining  the minimum values of the factors  that will bring the actual distribution to the pattern one is proposed in the paper.

Title of the Paper: Unconscious Marketing: Is It Good or Evil?


Authors: Maia Ozdemir

Pages: 48-58

Abstract: Applying to such perceivable issues as social responsibility, trade, negotiations and professional practice, Ethics is a well-studied topic, but there is only a handful of studies discussed ethical using of knowledge in the field of consumer behavior’s unconscious drivers. The only known case of unconscious manipulating caused strong public concerns and forced governments for legal regulations was subliminal advertising claimed by J.Vicary in 1950th. However, the Ethical question should be raised as there is a surge of multidisciplinary studies with application of psychological methods to determine unconscious traits influencing consumer’s behavior. The current paper explains the need for the ethical consideration while using knowledge of consumer’s unconscious needs with example of the study on cultural housing preferences for three cultural groups, namely, Czech, Turkish and Russian.

Title of the Paper: Economic-Mathematical Models of Progressive Income Taxation in Russia


Authors: Olga Kalinina

Pages: 39-47

Abstract: Transition methods from flat to progressive linear and nonlinear tax scales of income taxation, on the basis of the offered mathematical tools, are developed in this article. The generalized mathematical model of transition to the progressive taxation is offered. This model allows estimating all possible options of alleged reform of a flat scale transformation. The probabilistic model of the income taxation considering possibility of tax payment evasion is also developed.

Title of the Paper: Residential Choice in Different Countries: Maslow, Evolution of Human Brain and Culture


Authors: Maia Ozdemir

Pages: 32-38

Abstract: Construction industry has some unique features (fragmentation, for instance) that make applying marketing difficult. However, increasing competition in construction industry compels companies to change their views toward customers’ expectations and to adopt new customer friendly marketing strategies. Effective marketing is beneficial for construction companies. Customer centered strategy becomes even more important in multicultural environment. Because of migration, it is difficult to find a place without migrants in the world, and all big cities became multicultural metropolises. So, almost every company should consider itself acting on multicultural market. Multiculturalism leads to the new segment of housing market. Every company interested in capitalizing on this new lucrative market should recognize customers’ cultural needs and develop the new marketing strategy accordingly. Moreover, the fact, that ignoring humanistic factors in build environment has psychopathological consequence called “uprootedness”, carries this problem up to the level of government. Maslow’s hierarchy of needs is useful for customers’ segments definition and segmental marketing strategy development. Layers of the Hierarchy correspondent to the parts of Maclean’s Triune Brain and represent human evolution periods. Based on Author’s previous research, this work attempts to investigate the effects of Maslow’s hierarchy of needs on housing preferences and on intercultural marketing strategy. The current work would be interesting for professionals and academics in the field of construction management and building studies.

Title of the Paper: Appraisal Value and Assessed Value in Italy


Authors: Marina Ciuna, Francesca Salvo, Marco Simonotti

Pages: 24-31

Abstract: The appraisal value is an appraiser's opinion (not determination) of the current worth of a property on the real estate market. The assessed value is the value placed on real estate property by government assessors for determining ad valorem taxes. Assessed value is used rarely as basis for appraisal value. The Italian appraisal practice is characterized by valuations developed in subjective opinions formulated by the valuers, according to the experience and the competence rather than on the survey of the market data of comparable properties. These opinions are indicated by the term expertise, borrowed from the estimates made in the art market. In Italy, the valuation of the properties applies a form of expertise based on subjective opinion rather than on the market prices. The basis of the expertise is one synthetic estimate of the value based on a single parameter, often derived from generic list of interval values quotations.

Title of the Paper: Regional Investment Climate Estimations with Application of Multidimensional Statistical Analysis


Authors: Aleksandr Izotov, Olga Rostova

Pages: 15-23

Abstract: The investment decisions are one the most difficult when viewed from the selection procedure. They are based on the multivariate and multi-criteria estimations of many factors and trends, often having mixed dynamics. That’s why the investment attractiveness estimation for the territory is the most important aspect of investment decision making. The accuracy of estimation affects the consequences for the investor and for targeted the economic system. The investment decisions should be based on professional estimations of investment climate in countries and regions. In this connection the article solves the problem of selection of the most indicative factors for the purpose of estimating of investment climate and application of  multidimensional statistical methods for prompt classification of the regions.

Title of the Paper: The Relationship between Capital Structure and Family Control: Evidence from the Czech Republic


Authors: Ondřej Machek, Jiří Hnilica

Pages: 9-14

Abstract: The role of family businesses in Eastern European countries has been long underestimated and the academic attention devoted to this topic does not reflect the powerful role that family-controlled enterprises play in the world economy. This article deals with the relationship of family control and capital structure in the Czech Republic.  We test the hypothesis of a lower leverage and greater liquidity on a sample of 1500 Czech medium and large-sized companies using regression analysis with dummy variables. The hypothesis was been tested on the available data on each year from 2009 to 2012. The authors found that the level of debt is significantly lower and the level of liquidity tends to be greater in the case of family firms. The risk of transfer of control over the company to other people than family members in case of default, as well as a possible damage to family reputation, may be possible reasons for a higher risk aversion of Czech family firms.

Title of the Paper: Select the Most Economically Advantageus Tenders in Public Works Contracts: MCDA Models and MACBETH Used to Analysis and Comparison Using a Case Study


Authors: M. R. Guarini, C. Buccarini, F. Battisti

Pages: 1-8

Abstract: In Member States Directive 2004/18/EC of the European Parliament and of the Council of 31 March 2004 on the coordination of procedures for the award of public works contracts, public supply contracts and public service contracts, (2004/18/EC), provides that the commissioning body may base the choice of contractor of public works on two award criteria:•The lowest price; •The most economically advantageous tender. In Italy the Code of Public Contracts for works, services and supplies, Legislative Decree No 163 of 2006 and subsequent amendments (Legislative Decree No 163/2006) and its implementing decree, Presidential Decree No 207 of 2010 (P.D. 207/2010),) have transposed the requirements of 2004/18/EC. Legislative Decree No 163/2006, in accordance with european legislation, provides that decision by the commissioning body about award criteria must be made by applying the criteria and objectives, and by ensuring compliance with the principles of transparency, non-discrimination and competition. In order to rank the different tenders for the award of public works contracts using the criterion of the most economically advantageous tender, Legislative Decree No 163/2006 and P.D. No 207/2010 require the use of a Multicriteria Decision Analysis (MCDA) model. The P.D. No 207/2010 suggests to use one of five MCDA models: Weighted Sum Model (WSM); Analytic Hierarchy Process (AHP); ELimination Et Choix Traduisant la REalité (ELECTRE); EVAluation of MIXed criteria (EVAMIX); Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS).But the possibility of using any of the methods to be found in scientific literature is also indicated. The aim of the text is to propose the application of a new MCDA model: the Measuring Attractiveness by a Categorical Based Evaluation TecHnique (MACBETH, Bana e Costa, Vansnick, 1994) has not yet been applied in the approximate evaluative field, in verifying either similarities/differences with other MCDA methods suggested by Italian legislation, or with reference to a case study, the advantages/disadvantages arising from the operational application of different MCDA methods considered.